Speedy Shipping Corporation Applies to TransInsurance Company for a Fire

question 24

Multiple Choice

Speedy Shipping Corporation applies to TransInsurance Company for a fire insurance pol?icy on Speedy's warehouse.On the application,Speedy misrepresents the age of the property to obtain a lower premium.When a fire soon destroys the ware?house,TransInsurance can

• A)deny payment,because a fire destroyed Speedy's warehouse.
• B)deny payment,because of Speedy's fraud in the application.
• C)not deny payment,because a fire destroyed Speedy's warehouse.
• D)not deny payment,because the application is not part of the policy.

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Definitions:

Components

The parts or elements that make up a whole system or object, each serving a specific function.

Disaster Strikes

A phrase used to describe the occurrence of a catastrophic event that causes significant damage, distress, or loss.

Mental Health Clinicians

Professionals trained to diagnose and provide treatment for mental illness and psychological distress.

Chaos

Complete disorder and confusion, often referring to situations where there is a lack of order or predictability.